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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
US
- Released late Friday Mar 24, the Fed’s weekly banking assets & liabilities data showed a slight acceleration in deposit withdrawals for the first week capturing fallout from regional banking woes (ending Wed 15 Mar).
- Net outflows increased to $53B from $46B from the week prior, although that was equivalent to a more pronounced acceleration in seasonally adjusted terms to $98B from $63B, the largest weekly drop since Apr’22 and before that Oct’08.
- The overall decline in commercial bank deposits masked opposing forces through the week.
- Small domestic banks saw their largest deposit flight since at least 2000 in both NSA ($108B) and SA ($120B) terms, almost or more than twice the previous largest single week outflow.
- This was offset by haven seeking at larger banks, which saw the largest inflows in over a year at $120B (although notably scaled down to $67B SA) in a break from consistent withdrawals having peaked in Mar’22 at the start of the Fed hiking cycle.
- That haven seeking appeared to affect foreign-related institutions as well, also seeing large outflows.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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